Yuga Labs, the creators of Bored Ape Yacht Club (BAYC), have announced a new collection of non-fungible tokens (NFTs) called TwelveFold. The collection features 300 Bitcoin tokenized computer-generated artworks, with each artwork representing a base 12 art system located around a 12×12 grid. Yuga Labs designed the collection to explore the relationship between time, mathematics, and variability using the Bitcoin blockchain. The TwelveFold collection will go up for auction later this week.

Yuga Labs explained the concept behind TwelveFold in an accompanying blog post, saying that the collection is an allegory for data mapping on the Bitcoin blockchain. The post further explains that satoshis are the smallest individually identifiable units of a Bitcoin and that an inscribed satoshi can be located by tracking when that satoshi was minted through the Ordinal Theory protocol.

The move to launch a new collection of NFTs on Bitcoin comes amid falling NFT search interest, as indicated by Google Trend data. However, NFT trading volume data for February suggests the market remains strong, with $997.14 million worth of global NFT sales for the month.

In other news, the Golden Key NFT, won by Twitch streamer Mongraal in a Dookey Dash competition hosted by Yuga Labs, has been sold for 1,000 Ether to Adam Weitsman, BAYC NFT hodler and CEO of scrap metal shredding company Upstate Shredding. The golden key is sure to unlock something special from Yuga Labs, though the specific details have yet to be revealed.

The Polygon Foundation, the non-profit organization behind Ethereum’s Layer 2 scaling network Polygon, has partnered with South Korean multinational conglomerate Lotte Group to host the company’s NFT projects. The partnership will see Lotte’s avatar-based NFT project BellyGom ported to Polygon from the Klaytn network and rebranded as the second season of BellyGom. NFTs offer hodlers benefits related to Lotte’s product and service lines, such as discount coupons for purchases and hotel vouchers. The move adds to Polygon’s growing list of partnerships with major brands including Starbucks, Adidas, Adobe and Prada. Lotte intends to develop its Web3 initiatives in partnership with Polygon, with the goal of expanding its NFTs to a global audience and developing “a new NFT business model rather than just issuing NFTs.”